Cognos shares rise on second-quarter report, outlook

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Cognos Inc.
cogn
shares rose 9% to $34.85 in Friday morning trade after the Canadian software company late Thursday reported fiscal second-quarter net earnings of $23.8 million, or 26 cents a share, down from $24.9 million, or 27 cents a share, in the year-ago period. Excluding items, profit came in at $30 million, or 33 cents a share, compared with $29.9 million, or 32 cents a share, last year. Revenue rose to $229.9 million from $212 million. Analysts polled by Thomson First Call had forecast earnings of 27 cents a share on revenue of $227 million. The company expects a third-quarter per-share profit of 10 cents to 14 cents, or 40 cents to 44 cents excluding items, on revenue of $237 million to $245 million. Analysts are looking for a per-share profit of 40 cents on revenue of $239 million. For fiscal 2007, Cognos forecast per-share earnings of $1.08 to $1.15, or $1.58 to $1.65 excluding items, on revenue of $950 million to $970 million. Analysts are expecting earnings of $1.51 a share on revenue of $962 million.

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